{"id":65867,"date":"2024-04-04T17:04:45","date_gmt":"2024-04-04T17:04:45","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-gets-loan-lifeline-from-key-shareholder"},"modified":"2024-04-04T18:58:35","modified_gmt":"2024-04-04T18:58:35","slug":"trustco-gets-loan-lifeline-from-key-shareholder","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-gets-loan-lifeline-from-key-shareholder","title":{"rendered":"Trustco gets loan lifeline from key shareholder"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Namibia. <\/strong><\/span>Trustco Group Holdings Limited yesterday announced the extension for the repayment date for a N$1 billion related party loan. Making the announcement via a statement, Trustco shared that Next Capital (Pty) Ltd, a key shareholder and lender, has elected to extend the date for the repayment initially due on 31 March 2024.<\/p>\n<p>According to the statement, the decision comes as Trustco and Next engage in negotiations that could see the loan converted into an equity stake. \u201cThis loan extension from Next is a strong vote of confidence in Trustco\u2019s long-term prospects and growth strategy,\u201d said Floors Abrahams, Trustco\u2019s financial director.<\/p>\n<p>\u201cWe appreciate Next\u2019s collaborative approach and willingness to explore an arrangement that could create significant value for all investors.\u201d<\/p>\n<p>The statement further revealed that under the terms of the loan agreement approved by shareholders on 22 January 2019, Next has exercised its contractual right to postpone the repayment until the ongoing negotiations between the parties culminate in a new agreement or Next revokes the extension.<\/p>\n<p>\u201cTrustco is committed to leveraging this extension to further its strategic objectives and enhance shareholder value.<\/p>\n<p>The potential conversion of the loan into an equity stake underscores the shared vision and commitment between Trustco and Next, and it is a testament to the robustness of Trustco\u2019s growth strategy.<\/p>\n<p>The Board is confident that this development will pave the way for a prosperous future, and it looks forward to sharing more updates as they unfold. This marks the dawn of an exhilarating new era in Trustco\u2019s ongoing saga,\u201d the statement reads.<\/p>\n<p>Trustco further stated that historically, its investment portfolio has delivered \u201cexceptional returns, with a well-balanced asset mix, which has maintained an average weighting of 34% in US Dollar based assets, while the remaining 66% is invested in Namibian Dollar based assets\u201d.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/namibia\">Namibia<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Namibia. Trustco Group Holdings Limited yesterday announced the extension for the repayment date for a N$1 billion related party loan. Making the announcement via a statement, Trustco shared that Next Capital (Pty) Ltd, a key shareholder and lender, has elected to extend the date for the repayment initially due on 31 March 2024. [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":65866,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,236,233],"class_list":["post-65867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Trustco gets loan lifeline from key shareholder - Namibia<\/title>\n<meta name=\"description\" content=\"Trustco Group Holdings Limited yesterday announced the extension for the repayment date for a N$1 billion related party ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-gets-loan-lifeline-from-key-shareholder\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trustco gets loan lifeline from key shareholder\" \/>\n<meta property=\"og:description\" content=\"Trustco Group Holdings Limited yesterday announced the extension for the repayment date for a N$1 billion related party ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-gets-loan-lifeline-from-key-shareholder\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-04T17:04:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-04T18:58:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/04\/sm_1712243510.887925.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"462\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-gets-loan-lifeline-from-key-shareholder#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-gets-loan-lifeline-from-key-shareholder\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Trustco gets loan lifeline from key shareholder\",\"datePublished\":\"2024-04-04T17:04:45+00:00\",\"dateModified\":\"2024-04-04T18:58:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-gets-loan-lifeline-from-key-shareholder\"},\"wordCount\":314,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-gets-loan-lifeline-from-key-shareholder#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2024\/04\/sm_1712243510.887925.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-gets-loan-lifeline-from-key-shareholder#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-gets-loan-lifeline-from-key-shareholder\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/trustco-gets-loan-lifeline-from-key-shareholder\",\"name\":\"Trustco gets loan lifeline from key shareholder - 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